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I took out a small loan about a year ago to help keep my little online craft store afloat during slow months. At first, it seemed manageable, but lately sales have dropped, and I’m barely covering the monthly payments. I’ve tried cutting back on some expenses and even dipped into my personal savings, but it’s not sustainable. What’s really stressing me out is that this loan has a variable interest rate, and it just went up again, making the payments higher than I planned for. I don’t want to default, but it’s getting harder to keep up without sacrificing essentials at home. Has anyone else dealt with a small business loan that suddenly felt too heavy? How did you approach renegotiating terms or finding a better payment plan without hurting your credit? Also, are there any alternatives you’d recommend for someone who can’t boost income right now but wants to avoid piling on more debt?

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